Thursday, June 10, 2010
The homeownerist prop continues
UK interest rates kept at 0.5% for 15th month
21 thoughts on “The homeownerist prop continues”
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mrflibble says:
Quelle surprise. Is it just me or is this monthly meeting result becoming a bit samey?
They robbed from the currency via QE, they robbed from the savers via ZIRP and they robbed from the unborn via debt, all so they didn’t have to release the ill gotten gains the housing market has made back into the economy. Well done chaps, may you all burn in hell…
str 2007 says:
It appears in the last hour or so all has been corrected with the world.
Stock markets have suddenly risen, gold and US $ fallen.
Can someone let me know what actually happened since lunchtime to correct all ills ?
Davethebox says:
So are the inflation figures going to show that inflations coming down to justify them not increasing rates? I very much doubt it.
mrfibble @1
“Well done chaps, may you all burn in hell…”
Where’s the petrol and matches and I’ll do it now!
mrflibble says:
Sterling is rising too, all we need now is for housing to rise 2% this month and we’ll all be saved, saved I tells ya…
Ròóster says:
HPC really isn’t going to happen is it… : (
fallingbuzzard says:
@2, the recovery locked on to target again
bystander says:
@4 what does that actually mean??…………..especially as unemployment claims in the US rose more than estimated, even when the government tried to stem to flow, by hiring 411K for a senseless census, at least for 5 months anyway. China housing, not in a bubble (at over 100x average salary in some cities) and tightening stimulus/ lending. The EU fighting amongst themelves as to who can devalue first (difficult with a single currency, but they are all trying), before austerity makes life even more unpleasant than it is for so many already. The only recovery I am really seeing is a stimulus driven recovery backed up by companies working their fewer employees harder than ever to fill government contracts and therefore making ‘record’ profits……………and don’t get me started on the banks.
mander says:
Expect the rates to stay like that for 10 years or so. I say 10 years because in America they had low interest rates for a long time till they got themselves into trouble. But still this sounds too optimistic for Mervyn and I would like to forsee 1-2 years of minor deflation and after that 3-4 years hyper inflation.
str 2007 says:
bystander
That was my feeling
falling buzzard
No reason for the artificial props then I guess, perhaps we’ll see these falling one by one along with house prices soon.
bystander says:
…………..also in addition to my previous post. When is the world, I mean the all powerful ‘market’ going to turn its beady, many, eyes on the American deficit? Trade imbalances, paying people to count other people, and paid for by the taxes of a diminishing number of private employees. Is the ‘market’ actually just another name for individuals, companies and states who are either owed money by, China and most other countries in the world or owe money to, can’t hink of that many, the US of A? This may be a reason why the Yanks can continue as normal (this isn’t counting the millions who have and will lose their jobs due to the ongoing financial problems), since if they did declare bankruptcy the repercussions would indeed be monumental. ‘MORAL HAZARD’ on a continent wide basis anyone?
Si says:
recapcha = “social theft”
haha nuff said.
str 2007 says:
TC
Drizzle eh, well it’s due to pour tomorrow – how long does the mystic captain plan to hang onto his gold.
And are you likely to tell us what is likely to happen in your 3 day world window ?
(The new I phone isn’t out until 24th BTW)
Chilli says:
The Bank uses interest rates to try to curb inflation, but Mr Williams said: “The target was never meant to be hit every single month. It’s a medium-term target. And I think they’re quite right to hold off.
Ahhh..!! Ok then…. So what was that letter to the chancellor all about then?
alan_540 says:
@2 STR
“Stock markets have suddenly risen, gold and US $ fallen.
Can someone let me know what actually happened since lunchtime to correct all ills ?”
China exports propel world stocks :
http://uk.reuters.com/article/idUKTRE6593TH20100610
Notyethomeless says:
Well, my shorts are down and I’m hurting.
Recaptcha: “frazzles vengeful ” … too right it does!
str 2007 says:
Cheers Alan
Some quite positive news out there really. Chinese exports up 50% on a year ago is pretty significant. Yes they were probably at a significant low a year ago but 50% is quite a jump.
Strong demand for Spanish Bonds.
I wonder if Gold and Silver are still ‘going to the moon’ ?
Only this week Money Week were saying they wouldn’t buy BP until it got down to £4.20. Erhm £3.60 today.
No doubt there’ll be a complete reversal of all this news soon or will there ?
quiet guy says:
@TitanicCaptain
“the big man upstairs” ?
Sounds very sinister, TC. Care to scare us with more info?
jack c says:
titaniccaptain – have you used the proceeds of the house sale to fund more fine wines and a batch of LSD?
markj69 str05 says:
@tc.. Re-CGT… Wait until you see the small print, in the decision. Might just find a few caveats hidden away. When you think that approx’ 95% of land is owned by just a couple of % of the population. There must be some very persuasive rich folk out there, looking to protect their own interests.
jack c says:
titaniccaptain – I think that line was one from my old drinking mate Besty !
I gave up women and drinking in 1969 – it was the worst 20 minutes of my life
David47 says:
I feel that the Bank of England has effectively stopped aiming for its 2% CPI inflation target and is happy for it to be higher. I was just reading a some economic analysis describing how UK Producer Price Inflation remains high and inflationary expectations are rising. And yet the Bank of England does nothing yet again…..